Posted by skcm2017 > 2021-07-02 19:32 | Report Abuse

yeah. i like it. Come another 1mil...

Posted by Mr.Sm Invest123 > 2021-07-02 21:43 | Report Abuse

马来亚投行称金发女朗幸福日子结束
风光不再大幅调低手套股目标价格
02/07/2021

手套业＂金发女郎幸福日子＂不再有？马来亚投资银行指出，手套平均售价（ASP）在今年上半年＂触顶＂，随新冠疫苗接种率提高，售价开始滑坡，手套股最风光日子一去不复返。

马来亚投行最新报告指出，手套集团盈利上涨趋势出现掉头，因为手套平均售价滑跌的速度，比预期更快。

「平均售价滑跌，意味手套集团盈利滑跌，主要是受供应大幅增加，疫苗接种率提高，以及行业竞争激烈，最风光的日子不再有。」

该行分析员指出，手套集团更面对全球环境，社会及监管标准的压力，估值会因此滑落。

贺特佳(HARTA 5168)最近向分析员举行汇报时透露，手套平均售价在下个月会进一步滑跌。

根据一家国际会计楼报告指出，丁腈手套平均售价将在2023年时下跌52%至59%之间，每1000只手套售价是35美元至20美元之间。相比目前的每1000只手套US$85/US$42.70。

马来亚投行调低高产柅品（KOSSAN）和顶级手套（TOPGLOVE）评级至＂观望＂，不过维持贺特佳（HARTA）的＂买进＂评级。

该行将贺特佳目标价由RM13.10调低至RM9.80，高产柅品目标价格由RM5.25调低至RM3.20。

顶级手套目标价格也由RM4.51调低至RM3.98。

高产柅品股价今午报RM3.11，顶级手套报RM4.03，贺特佳报RM4.02。

Posted by John1234 > 2021-07-02 23:21 | Report Abuse

For a share price to go up, we will need a catalyst. Sometimes, this may come from a competitor firm on the basis of comparative pricing.

Next Tue, Comfort will be listing its free new warrant:
Comfort's closing price today: RM 1.98
Warrant's exercise price: RM 2.30

This would mean the warrant is practically out-of-the-money as at today's closing price.

Will this give an incentive for its operator to push up the mother share? And to do this in a much more convincing manner, it can act jointly with the other glove counters.

Whether any show or not, we shall find out next week...

Posted by Sneakpeek > 2021-07-03 02:42 |

Post removed.Why?

Posted by Bgt 9963 > 2021-07-03 08:25 |

Post removed.Why?

Posted by STDN237649 > 2021-07-03 11:18 | Report Abuse

to;john1234 totally impossible to push up by next tuesday as market is bad plus our politic n economic situation no foreign funds hard to push

Posted by John1234 > 2021-07-03 14:56 | Report Abuse

STDN237649, your thinking is just being too "normal" and mkt can be more sophisticated than we can imagine.

Look at the share price movement of the glove counters in the last 2 months or so, they have been pressed down almost continuously to levels hardly imaginable(below fair values?). The fear of a falling knife has deterred many from active buying and bargain-hunting. As a result, I can see that a path of least resistance has since been created in the process. If they start pushing prices up with sufficiently large buy bids, some punters and technical traders out there will be attracted to jump in. Moreover, they may also create a short squeeze(short-covering) on the existing short bets, driving prices up too.

Mkt operators are no ordinary small players. They can play long or short based on their overall game plans and their own assessments of the "real" mkt conditions. Their only "valid" consideration is what they have got to gain by pushing up and if there is enough incentive for doing so.

Even if they were to do it, my guess is they would probably do it within their perceived "safe" zones, outside the "selling" range of most retail investors.

Posted by neutralist > 2021-07-03 22:32 | Report Abuse

2023, 10b capacity, 10pct margin,ASP25, utlization 90% , 5 yr mean PE of 15. calculated fv from assumption roughly 1.55. 50% margin of safety entry would be 0.78. so near. but i think i should wait till below NTA with this sentiment. faster fasterr give me my entry

Posted by ket4212 > 2021-07-05 05:56 | Report Abuse

morning

Posted by Bgt 9963 > 2021-07-05 07:36 |

Post removed.Why?

Posted by ket4212 > 2021-07-05 08:28 | Report Abuse

today glov stock down kaw kaw

Posted by Joey23 > 2021-07-05 08:34 | Report Abuse

Thn someone will happy kaw kaw

Posted by BrusaCasino > 2021-07-05 08:46 | Report Abuse

Why will down ?

Posted by ket4212 > 2021-07-05 08:48 | Report Abuse

topglov have bad news

Posted by BrusaCasino > 2021-07-05 09:13 | Report Abuse

Haha that's good news for compatitors then

Posted by skcm2017 > 2021-07-05 12:33 | Report Abuse

HLG : Rubber Gloves - ASPs Decline, But Shortage Remains

Going into 2H21, we expect nitrile glove ASPs to average at USD65-75 per thousand pieces. With vaccines appearing less effective against certain new variants and winter towards year end, we do not rule out the possibility of Covid-19 cases rising again, despite vaccination efforts in key markets. We lower Top Glove’s FY21/22 net profit forecasts by -3.3%/-2.6% and Kossan’s FY21 net profit forecasts -7.9% to account for lower sales volumes from smaller workforce capacity during FMCO. Maintain OVERWEIGHT. Top Pick: Top Glove (BUY, TP: RM6.72).

New variants and winter months a potential wildcard. While vaccination rates in key markets are progressing well (and resulting in lower daily Covid-19 cases) (Figure #2-3), we note that US and UK have begun relaxing lockdown rules, allowing large scale gatherings (sporting events, etc.). Despite this, there is growing evidence that vaccines may be less effective against new variants, particularly the delta variant (source). Note that while Covid-19 daily cases have declined in the US, the delta variant has roughly doubled every two weeks in the US (source). Coupled with the finding that Covid-19 (like seasonal flu) is more active during winter months (note that Covid-19 cases in US and UK peaked during winter), we reckon it is too early to rule out the possibility of Covid-19 cases rising in key markets again in the coming months, which would inevitably increase the demand for disposable gloves

-Santai reading-

Posted by neutralist > 2021-07-05 14:09 | Report Abuse

lol soon even cheaper than HLT kekekeke

Posted by Jonathan Keung > 2021-07-05 15:50 | Report Abuse

Bad day for gloves

Posted by TheContrarian > 2021-07-05 18:47 | Report Abuse

Bought at 83 sen today, hope it doesn't keep going down tomorrow.

Posted by neutralist > 2021-07-05 20:09 | Report Abuse

that is what people who buy at 1.8, 1.6, 1.4, 1.2, 1, 90cents said when they enter. maybe you will be lucky because yours is much lower. hehehe

Posted by TheContrarian > 2021-07-05 20:16 | Report Abuse

Why do I buy Rubberex? Because when I buy chicken rice I see the chicken rice vendor wears gloves; when I buy satay I see the satay seller wears gloves; when I go for dental treatment I see the dental doctor wears gloves, I see the nurses wear gloves .... and I see them taking off their gloves and replacing with new ones frequently. Before Covid-19 pandemic I never see gloves.

Posted by TheContrarian > 2021-07-05 20:19 | Report Abuse

@ neutralist, my money was stuck at Boustead until I sold off recently and was looking for some other counters to redeploy into and found Rubberex by chance.

Posted by neutralist > 2021-07-05 22:31 | Report Abuse

@TheContrarian thans for your explanation or reasoning. but may i know there are so many other glove counter out there. why ruberex.

First liners
Hartalega - premium and insti’s favourite. recent selloff make it almost back to pre covid level. Good price

Kossan - valuation is undemanding, almost no bad news or bad practice news. away from limelight. more stable one out of all

Top Glove - dividend champion. always aggresive in their business.

Supermax - most undervalued however had 0 support from mgmt. other counter still employ some buyback, they did not so their drop is more drastic than others.

Second Liners

Comfort - the most undervalued, owner is more modest, quite a good overall value

Careplus - recently acquired FDA approval to supply surgical glove through the subsidiary that they sold half to ansell. this shows ansell is helping them in distributionship.

Ruberex - undervalued. got expansion plan. low debt cash rich. However, i did not see their name in fda database means their focus is only Asia and Europe where they have distribution center in spain. are they able to sell only to these 2 region the 10b pieces? Owner recently sold down in very large quantity, company is cash rich but decided to do PP to raise fund for expansion diluting ownership but reward for shareholder? no dividend? Even careplus started giving dividend, rubberex? dun say because of expansion, if you did not PP then understandable. this u do PP to raise fund, but never give out any dividend.

So why did you choose Ruberex out of all options that you have. just want to see from your point of view. for me i am here to get more information, and would like to take position near its NA. Maybe 50-70 cents. i think it is worth rm1.5 but with other options, i don’t see its going there anytime soon.

Posted by BrusaCasino > 2021-07-05 22:52 | Report Abuse

@neutralist I agree. This is why I sold all my rubberex and shift to others like comfort.

Posted by BrusaCasino > 2021-07-05 22:52 | Report Abuse

Top Glove Glove Production 100 Bil, Market Cap 34,Bil = about 35c cap value for each glove
Kossan Glove Production 28,Bil, Market Cap 8.3 Bil = about 30c Cap Value for each glove
Supermax Glove Production 43,Bil, Market Cap 9, Bil = about 21c Cap value for each glove
Rubberlex Glove Production 2.5 Bil, Market Cap 7.2,Mil = about 29c Cap Value for each glove
Careplus Glove Production 4.8 Bil Market Cap 920 Mil = about 19c Cap value for each glove
Comfort Glove Production 6.8 Bil Market Cap 1.1 Bil = about 17c Cap value for each glove

Posted by TheContrarian > 2021-07-05 23:49 | Report Abuse

@neutralist, I didn't compare Rubberex with the other glove companies. I just happened to chance upon it going through a free fall. No counter's market price falls forever, there's always a bottom and so long as the company has a profitable business, its market price will rise again. I previously owned Supermax for over 10 years and sold last year before it turned ex-bonus for around RM22.60 I think, and haven't looked at another glove counter until now.

Posted by TheContrarian > 2021-07-06 00:31 | Report Abuse

Spent half an hour doing a bit of research on Rubberex and noted that the single largest shareholder did indeed sell a chunk at RM1.40 level in April ; so who bought this chunk? Significant portion of revenue is derived in Malaysia which means no worries of US Customs blocking any shipment. Am I right about this? A built up of huge cash pile might mean a bumper dividend might come.

Posted by TheContrarian > 2021-07-06 00:33 | Report Abuse

Tomorrow if price falls further I will definitely buy. I still have half of my Boustead sales proceeds to redeploy.

Posted by Albukhary > 2021-07-06 01:10 | Report Abuse

As per my understanding, Ruberex Nitrile Glove got FDA 510k certification. That means its product are allow to export to US.

Why we buy Rubberex, below are the reason (my personal opinion) :-

1) The share price is cheapest. We have a mindset that when glove trend is coming back, the lowest share price one will always give you the biggest return in percentage.

2) Percentage increase of production capacity. Compare to other glove counter, their capacity only can increase 10%-20%, as their base is very big. But Ruberex is different, its base is small, from 1bil to 2.5bil is 150% increase, then from 2.5b to 5bil is another 100%, then from 5bil to 7.5bil is 50%.

3) Because of its 150%, 100% 50% increase in capacity, we foresee its profit will be more stable compare to other glove counter. Example, if ASP drop 30%, Supermax profit may drop 50%. But for Ruberex, when ASP drop 30%, it can be cover by 100% increase of its capacity, so the impact of ASP drop is lower.

4) We believe in Dato Eddie Ong. Compare to other glove boss, Dato Eddie look like more a risk taker. He is not traditional type of businessman, he is more like a capital market player who know how to press down the share price, how to goreng the share price, how to takeover other company. So we believe he will do something in near future.

Posted by neutralist > 2021-07-06 03:33 | Report Abuse

@BrusaCasino thanks for sharing. very interesting point of view to calculate the market value per gloves. could be a good method as well. only i prefer to use a lot more historical metric because some company might have higher value because of their name brand. Like when you buy rootbeer, usually anw rootbeer more expensive than tesco brand rootbeer. but you can see it both ways.

Posted by neutralist > 2021-07-06 03:53 | Report Abuse

@TheContrarian yes you have more experience than me. i believe so as well the price cannot fall forever. Yes latest quarter large chunck are sold to Malaysia. historically they sell most of their gloves in Europe. i think if they can continue selling more volume in europe then that would be good to sustain their expanded capacity in future. yes large chunk at 1.4. who else? if it is a strategic disposal, it would have been done off market via dbt. so if it is in open market, any tom d.ick and harry can be the receipient. if he believes in the company so much, he would not have sold any of his holding and keep through expansion unless ulterior motive is (just my opinion) to take the company private. then that is my reason to wait for price to be nearer to NA per share because he is capable and can press it to that level before acquiring.

@Albukhary thanks for sharing. ok i will recheck the fda database again. but when i search i could not find it. do you know under which name did they get the fda approval. your reasoning make sense. but last short push up, ruberex went up only 40%. but if you see others went up almost 60-100%. so reason no 1 does not seems applied here. 2 and 3 i totally agree. 4 is subjective. he is a capital market man, so what he does is usually of benefit to him not minority shareholders. hence only the one that can follow or knows he trends can benefit unless your entry is really low. last time he bought off directors exiting the company af rm1.80 per share which is 60 cents post BI. hence if it ever reach near that then i think is the safest entry.

Posted by Jonathan Keung > 2021-07-06 07:15 | Report Abuse

Rubberex tends to follows the big 4 stock movement. If Supermax break below 3.00 today { a sea of red for this small glove stock } Things are certainly not looking good for TG, Harta or Kossan }

Posted by TheContrarian > 2021-07-06 08:48 | Report Abuse

Albulkhary has a valid point. Percentage gain is what matters most.

Posted by Bgt 9963 > 2021-07-06 08:52 |

Post removed.Why?

Posted by Bgt 9963 > 2021-07-06 08:54 |

Post removed.Why?

Posted by afif95 > 2021-07-06 09:25 | Report Abuse

@thecontrarian i dont know if i look it right or wrong. suddenly the owner choo meng become 3rd shareholder in comfort lol

Posted by TheContrarian > 2021-07-06 09:47 | Report Abuse

I have no idea but usually this would be a conflict of interest.

Posted by BrusaCasino > 2021-07-06 11:53 | Report Abuse

Eddi Ong is no longer a substantial share holder at rubberex? I remember he has like 30%, now I don't see his name

Posted by BrusaCasino > 2021-07-06 11:54 | Report Abuse

Jump ship to comfort

Posted by neutralist > 2021-07-06 13:49 | Report Abuse

@afif95 @BrusaCasino he is still the substantial owner of ruberex. and he was a substantial shareholder in comfort glove but pared down his holdings in comfort gloves last year and increase his holdings in ruberex. recently sold of his ruberex a bit.

Posted by John1234 > 2021-07-06 17:52 | Report Abuse

Today, Comfort listed its free warrant at Bursa. But, it failed to provide a much-hoped-for catalyst to the glove counters(including Rubberex). Instead of pushing up Comfort's share price to match its exercise price, mkt operator chose to prop up its out-of-the-money warrant at a ridiculously high price:
Comfort's closing price today: RM 1.94
Comfort's warrant closing price: RM 0.305

Apparently, there appears a current mispricing of either the mother share or its warrant. How should mkt interpret this? Does this high warrant price suggest the mother share is underpriced currently and its share price will eventually exceed the combined exercised price within the next 5-years? Or the warrant price is artificially inflated by the mkt operator for a pump and dump?

Whatever it is, only time will tell. But one thing for sure, mkt can be more sophisticated than we can ever imagine possible!

Posted by neutralist > 2021-07-06 20:40 | Report Abuse

actually you can see a lot of company warrant is priced at 10-20% premium. good company has higher premium like scientx. so not suprised the warrant is of some value now. some more it expires 2026 with excercise price of 2.30. if you think at some point comfort will reach rm3 or rm4 in 2026, the warrant, with no extra premium on it will also be around 0.70-1.70. paying 305cents now is how many fold already. compared to buying mother 1.90-3 or 4. percentage wise even buying at the premium price now has more upside in it. depending on your horizon and your strategy. if it does not hit 2.30 anymore means it is worthless. see your risk profile and your appetite when buying

Posted by John1234 > 2021-07-06 21:37 | Report Abuse

Much like a right issue or a private placement, issuance of free convertible warrants serves as yet another available avenue for management to plan and raise sufficient funds to meet mid-term operating requirements.

Since it is given free, it is always viewed positively by the mkt. This is one area Rubberex management should explore near-term to enhance shareholder value.

Posted by bpsiah > 2021-07-06 21:47 | Report Abuse

John1234, I agree with you. If only Rubberex can issue long dated convertible warrants FOC it will definitely enhance shareholder value.

Posted by ahchong01 > 2021-07-06 23:32 | Report Abuse

Wow. All big 4 factories in Selangor closed for EMCO. haha. Ruberex , Comfort and Careplus should be able to benefit from this. Just too bad for Ruberex i think because it must be supressed for PP to take place. Haihs. Good opportunity at not efficient timing

Posted by ket4212 > 2021-07-07 06:02 | Report Abuse

morning

Posted by 8888_ > 2021-07-07 11:23 | Report Abuse

Warrant like Comfort is good? Why no Ruberex shareholders dare ask for free W? I3 members short sellers is it?

Posted by 8888_ > 2021-07-07 11:24 | Report Abuse

Talk here Ong Choo Meng can know?

bpsiah John1234, I agree with you. If only Rubberex can issue long dated convertible warrants FOC it will definitely enhance shareholder value.
06/07/2021 9:47 PM

Posted by 8888_ > 2021-07-07 11:26 | Report Abuse

Cancel PP give free W why nobody suggest? Quote Comfort as example why cannot?

Posted by 8888_ > 2021-07-07 11:27 | Report Abuse

Cancel PP Ruberex back >RM 1?